Journal of Siberian Federal University. Humanities & Social Sciences / The International Investment Position of the BRICS

Full text (.pdf)
Issue
Journal of Siberian Federal University. Humanities & Social Sciences. 2023 16 (3)
Authors
Zharikov, Mikhail V.
Contact information
Zharikov, Mikhail V.: Financial University under the Government of the Russian Federation Moscow, Russian Federation; ; ORCID: 0000-0002-2162-5056
Keywords
BRICS; international liquidity; gold holdings; world assets; world liabilities; BRICS Development Bank; global debt map; world monetary system; Bretton Woods institutions; net borrowers and creditors
Abstract

The article is time-relevant, because the BRICS de facto becomes increasingly visible in the global economy and international financial architecture. De jure the BRICS’ presence is ignored by the Western governments and media. Especially acute the topic is in terms of new proposals and projects developed by the leaders at the 14th BRICS Summit, including the extension of the bloc. The author attempts to create a global view of the BRICS’ in the international relations of debt and liquidity. The author constructs a system of measures to identify the role Brazil, Russia (the USSR), India, China and South Africa played over the past 50–70 years. The result is the global debt map contrasting the posture of the BRICS and the Bretton Woods institutions in the world financial architecture. The purpose of developing the map is to demonstrate the visibility of the financial institutions established by the BRICS such as New Development Bank. The introduction of the global map of debt to the Russian and foreign literature on economics will renew and enrich the theory and understanding of the BRICS’ stance in the structure of world assets and liabilities. The significance of the global map of debt is also to show ways for Russia to cooperate and transact with countries across the world in the period of a new wave of international sanctions. The debt map is a useful instrument for responsible government agencies of Russia to estimate the geographical spread of friendly and unfriendly capital providers

Pages
354–365
EDN
CNVSMO
Paper at repository of SibFU
https://elib.sfu-kras.ru/handle/2311/149946

Creative Commons License This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License (CC BY-NC 4.0).